SC to review petition on offshore bank accounts

New Delhi: The Union government should be ordered to begin steps to reclaim at least Rs70 trillion that is being held in offshore banks to evade taxes, an ex-minister said in a petition to the Supreme Court (SC).

SC said it will review the petition made by former law minister Ram Jethmalani on Wednesday.

The government should be directed to ask the banks, and especially UBS AG, to freeze unaccounted funds held by Indians in the offshore accounts, Jethmalani said in a petition on Tuesday.